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Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
 Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal prices and adding order uncertainties for exporters, Fitch Ratings and CRU say. Miners from Australian and Indonesia are the most exposed, but the credit impact is muted thanks to sufficient rating headroom as we have already incorporated a downward pricing trend in our rating assumptions.
The Chinese coal market’s tightness has eased due to a combination of weaker demand and improved domestic supplies. Chinese coal demand has declined as residential power consumption reduced at the end of the winter heating season in mid-March and hydro supply increased in south China due to heavy rains. Chinese domestic coal supply has gradually improved in recent quarters as the pace of capacity closures has slowed and incremental capacity has been expedited to bring down fuel costs, according to CRU. Inventories at the six main power producing groups edged up to 16.0 million tonnes in late March, 13% higher than the average for 2018 of 14.1 million tonnes.
Growing domestic supply is likely to prompt the Chinese government to tighten control over thermal coal imports. This would imply higher order volatility and risks for seaborne coal suppliers targeting the Chinese market, which are mainly miners in Australia and Indonesia. The Chinese government appears to have adopted an on-and-off importing policy since 2017 by implementing stricter checks when domestic supply is sufficient and speeding up clearing when domestic supply is tight. Australian coal cargoes, for example, have been facing increasing delays clearing customs at Chinese ports since February, according to CRU.
While seaborne coal remains price competitive compared to domestic coal, risks of long clearing time and import bans may discourage Chinese consumers from using seaborne coal, especially when domestic supply is sufficient.
Australian coal producers are likely to face the risk of order cancellation, and to some degree, be forced to compete for sales in alternative countries. This may lead to weak prices in the seaborne market, especially for the mid-content-value coal of around 5,500kcal/kg that Chinese importers typically buy from Australia.
Imports from Indonesia have been less affected by the recent Chinese controls, according to press reports, although Indonesian producers are still likely to come under pressure to find new markets due to overall declining Chinese demand for seaborne coal, as well as increasing Indonesian domestic output, and weaker-than-expected domestic demand.
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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
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